Palladium jumps on US-Russia tensions

Palladium jumped about 1 per cent to $1,131.72 an ounce after marking a record high of $1,143 (Dh4,156.24). “Some market participants also hold US President Trump’s planned withdrawal from the INF (Intermediate-Range Nuclear Forces) treaty responsible for the rise in the palladium price, arguing that Russia could restrict palladium supply in response,” Commerzbank analysts wrote in a note.

Among other precious metals, silver rose 0.7 per cent to $14.71 while platinum was up 0.8 per cent at $826.20.